Hydrogenetics Inc (HYGN)

[Halada]

In the last week or so there has been alot of talk on authorized shares. Here is a news release from them last Dec.

HydroGenetics, Inc. Elects to Reduce Authorized Shares By 750,000,000
Date : 12/22/2008 @ 9:29AM
Source : PR Newswire
Stock : (HYGN)
Quote : 0.0371 0.0171 (85.50%) @ 4:58PM


HydroGenetics, Inc. Elects to Reduce Authorized Shares By 750,000,000




Cap Restructuring, Form 10 Filing, M&A's Among Major Moves to Create Market Confidence.

MIAMI, Dec. 22 /PRNewswire-FirstCall/ -- Emerging green energy holding company HydroGenetics, Inc. (http://www.hydrogeneticsusa.com/) (Pink Sheets: HYGN) announced today that its Board of Directors elected to reduce the authorized shares of its company from 1,000,000,000 to 250,000,000, a 750 million share reduction in a weekend meeting held last night. The company has not indicated whether further reductions of its authorized shares are forthcoming. "This move should boost investor confidence in that we are restructuring our company to contend in major exchanges, as we continue to build shareholder value and execute our business strategy," says CEO Marc Walther. "We hope that by the end of this week, we will have filed our Form 10 with the SEC which should further signal to the investment community we are doing the things that responsible, intelligent, public companies ought to do."